Eleven Eleven Media

Navy Federal Offers Competitive 1st Mortgages for Military Personnel

Vienna, VA -- (SBWIRE) -- 04/20/2012 -- For military personnel, first time home buying is a big deal and can sometimes be an intimidating experience — some are not even sure where to begin. Competitive mortgage incentives offered by Navy Federal Credit Union, however, has simplified the home buying process, making it less daunting for our service men and women.

With the First-Time Homebuyers Plus® package from the Navy Federal Credit Union, military personnel enjoy flexible financing options tailored to suit their needs. First time home buying applicants can take advantage of no down payment options with up to 6% seller contribution, and additional cash incentives, including a $200 Visa Prepaid Loyalty Card, cash back of $5,050 with RealtyPlus , and rate match.

As with other services, Navy Federal tailors its mortgage programs to members of the military, because they understand the unique lifestyles of service men and women. For instance, when buying a home and applying for a first mortgage, Navy Federal waives the application fee for military members and their family. Furthermore, 100% financing options with fixed payments for the life of the loan are other incentives that help members save money over the long term.

Some of Navy Federal’s first time home buying offerings include:

- Competitive rates
- Reduced documentation
- NO DOWN PAYMENT on some loans
- Interest-only financing available
- Mortgages up to $2,000,000
- No Private Mortgage Insurance (PMI) on many loans

While a February, 2012, CNNMoney report states that buying a home is a more attainable feat than it has been in decades, overly restrictive lending has made it hard for some to achieve homeownership. Navy Federal’s mortgages, however, with its competitive incentives, prove that finding the right lender is just as important as finding the right home.

Getting a first mortgage loan with low rates from Navy Federal will be important as many service men and women return to civilian life and consider buying a home for the first time.

Find more information on the Navy Federal Credit Union and its programs for home loans offered to military personnel and their families at the Navy Federal website: http://www.navyfederal.org. Navy Federal is an equal housing lender and federally insured by the NCUA

About Navy Federal Credit Union
As one of the world’s largest credit unions, Navy Federal Credit Union retains over 3.7 million members worldwide with $40 billion in assets, 220 branch offices, and over 7,100 employees around the world. Navy Federal Credit Union strives to provide all military personnel in the Army, Navy, Marine Corps, and DoD with easy access to loans, mortgages, and low-rate credit cards. For additional information about Navy Federal, visit http://www.navyfederal.org.